JTL(SZ:300091)2021-04-28 16:00Financial Performance - The company's revenue for Q1 2021 was CNY 509,504,628.70, representing a 16.13% increase compared to CNY 438,720,064.92 in the same period last year[8]. - Net profit attributable to shareholders was CNY 29,609,304.78, up 37.09% from CNY 21,598,261.56 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was CNY 28,641,212.66, reflecting a 48.03% increase from CNY 19,347,639.82 in the previous year[8]. - The basic earnings per share for the period was CNY 0.0211, up 19.89% from CNY 0.0176 in the same period last year[8]. - The weighted average return on equity was 0.98%, an increase of 0.15% compared to 0.83% in the previous year[8]. - The total operating revenue for Q1 2021 was CNY 509.50 million, an increase of 16.1% compared to CNY 438.72 million in Q1 2020[55]. - The net profit attributable to the parent company for Q1 2021 was CNY 38.04 million, compared to CNY 27.46 million in Q1 2020, reflecting a growth of 38.5%[56]. - The total profit for Q1 2021 was CNY 34.57 million, compared to CNY 24.73 million in Q1 2020, marking an increase of 39.7%[58]. - Operating profit for the quarter was CNY 34.57 million, up from CNY 24.83 million, reflecting a growth of 39.3% year-over-year[58]. Assets and Liabilities - The company's total assets at the end of the reporting period reached CNY 6,776,368,681.40, a 10.85% increase from CNY 6,113,267,841.68 at the end of the previous year[8]. - The company's current assets totaled CNY 4,525,622,811.26, up from CNY 3,869,232,608.38 at the end of 2020, indicating an increase of about 17%[47]. - The company's total liabilities decreased to CNY 3,475,361,716.96 from CNY 3,633,087,716.42, a reduction of approximately 4.3%[49]. - The equity attributable to shareholders increased to CNY 2,301,006,964.44 from CNY 1,480,718,124.58, representing a growth of about 55%[49]. - The company reported a decrease in short-term borrowings to CNY 1,328,144,918.98 from CNY 1,481,314,213.36, a decline of approximately 10.3%[49]. Cash Flow - The net cash flow from operating activities was negative CNY 95,157,183.79, a decline of 10.95% from negative CNY 85,766,678.08 in the same period last year[8]. - The company reported a cash inflow from operating activities of CNY 355.26 million, significantly higher than CNY 246.82 million in the same quarter last year, representing a 43.9% increase[64]. - The net cash flow from financing activities was 529,916,535.18 CNY, up from 80,262,007.98 CNY, showing improved financial stability[66]. - The total cash outflow from operating activities was 648,563,726.45 CNY, compared to 639,889,822.61 CNY in the previous period, showing a slight increase in operational expenses[65]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 44,291[11]. - The largest shareholder, Nantong Industrial Holdings Group Co., Ltd., held 27.88% of the shares, amounting to 415,148,776 shares[11]. Research and Development - Research and development expenses increased by 46.34% to CNY 33.28 million, driven by the development of hydrogen fuel cell compressor projects[19]. - The company is currently in the detailed structural design phase for a multi-stage low-speed three-way blower, which is expected to enhance sales significantly[24]. - The company has completed the design of a new low-temperature rise centrifugal steam compressor, which is now in production, aimed at increasing product sales performance[25]. - The company is committed to increasing R&D investment, particularly in small gas turbine technology, to maintain its technological leadership in the domestic market[32]. Investment and Projects - The company issued 258,899,676 shares at a price of 3.09 RMB per share, raising a total of 800 million RMB for repaying bank loans and supplementing working capital[33]. - The company reported a total investment of 166,080.2 million, with 37,280.6 million allocated to committed investment projects[38]. - The company achieved a 100% completion rate for the construction of the large centrifugal fan production base, with an investment of 7,484 million[38]. - The company is expanding its straw gasification power generation project, with an investment of 4,200 million and a 100% completion rate[38]. Risks and Challenges - The company faces potential risks related to goodwill impairment from its acquisition of Shanghai Yunneng, which may impact future financial performance if expected returns are not realized[32]. - The company has a high proportion of accounts receivable relative to total assets, which could lead to liquidity issues if not managed effectively[30]. - The company is facing challenges in achieving expected returns from several projects, including the Nantong large centrifugal fan expansion project due to unabsorbed initial costs[39].